Drafting a will involves setting out clear instructions about what happens in the event you become incapacitated. For this reason, many young people believe that the process doesn’t apply to them.
While it is true that you most likely have many decades ahead of you as a young adult, it’s beneficial to be prepared for all possible scenarios. Being organized with your estate plan and drafting a will doesn’t mean you are morbid. In fact, it will probably allow you to live a more comfortable life.
Outlined below are a few reasons why you may want to think about drafting a will as a young person.
Is your career dangerous?
Each year, thousands of young individuals sign up for the U.S. military. While this is admirable, military service is a career path that has the potential to be dangerous. For peace of mind, you may want to draft a will and ensure that your final wishes are carried out should something happen to you while carrying out your duties. The same can be said for other career paths that have an element of danger, such as law enforcement and the fire service.
Do you have a family?
Your partner matters a great deal to you. Not only that, but you have recently had a child together. As parents, you plan to give your children everything they need whilst they grow up. While it’s most likely that you will be able to do this in person, you also want to make sure that they are cared for should something happen to you. By drafting a will, you can ensure that your children gain an inheritance that keeps them financially stable. With other estate planning documents, you can also allocate a suitable person to take care of them should something happen to you and your partner.
It’s important not to dismiss estate planning as a young person. The benefits far outweigh any drawbacks. Having legal guidance behind you as you make plans for the future will ensure that your will and other instruments match your needs.